The Nigeria National Petroleum Company, NNPC, Ltd. has denied speculations that it plans to move its headquarters in Abuja to Lagos.
Mele Kyari, the Group Chief Executive Officer, GCEO, NNPC made the denial at the resumed investigative hearing of the ad hoc committee on the acquisition of OVH Energy by NNPCL on Friday.
Mr Kyari said that contrary to the petition by petitioners, the company had no plan of moving its headquarters to Lagos, adding that this was despite its present status as a private company, registered with the Corporate Affairs Commission.
He said the insinuation might not be unconnected with the fact that 70 percent of its operations were in Lagos, adding that moving the headquarters would incur additional costs for the company.
He said the NNPC Ltd. had merged its operations and moved the right people where they were required to function.
According to him, the registered headquarters of NNPC Ltd. is in Abuja, the mere fact that the GCEO sits with the operations staff does not mean it has moved to Lagos.
According to him, those making the allegation were doing so because they didn’t want to move; this is the challenge of mergers and acquisitions all over the world. We have given them the option to resign.
“The company cannot keep them where they are not needed; this is what the petitions are all about.”
He noted that in every merger and acquisition, the dominant culture must be allowed to take over such as service, adding that this was exactly what the NNPC Ltd was doing.
“Merger and acquisition comes with challenges but we are minimizing the impact, we have to make the business happen.
“We are doing everything possible to ensure that it has no negative impact and we will ensure it creates value,” he said
